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PART VII INDEMNIFICATION LETTER OF AGREEMENT The: City Council City of Gem Lake 4200 Otter Lake Road Geiir Lake, MN 55.110 R.E-. Application of for Tax Exempt Revenue Bond Financing by the City of Gem Lake Dear City Council: This letter of agreement is given.* by , a under the laws of Minnesota C'Applicant") :a� required by the City of Gem Lake; Minnesota in: connection with its consideration of an application for tax exempt revenue bond financing for the project described in the application. Applicant agrees as follows: I. Applicant agrees to pay or reimburse the City for any .and all costs and expenses which the Ciiy may incur in connection with its consideration of the project:.and the granting of tax exe .p revenue bond financing therefor, whether or not the.project is preliminarily approved by-the.City, whether or not the: project is:approved by -the State of Minnesota; whether or not revenue bond financing is finally approved by the.. City, whether or not the bonds are issued and. sold, and whether or -not the project*is carried' -to completion. 2. Applicant agrees to indemnify and hold the City, its officers, employees and agents harmless against any and all .losses; claims, damages, expenses or liabilities; including attorneys fees incurred in their defense, to which. the City, its officers,. employees and agents may become subject. in connection with the City's. .consideration, issuance or sale of* the bonds for Applicant's project and the carrying out of the transac 'ons contemplated by this agreement and any resolutions adopted, or agreements executed. by the City in connection with the issuance of its bonds br-this project. �. Applicant hereby releases the City; its officers, agents and enipioyees from anyclaims, causes of action, losses, damages, .or liabilities which it may have against the .City, -its officers, agents, and employees or which it may incur in connection with: the City's consideration of the :application for industrial development. revenue bond financing for Applicant's project; the failure of the City, in its discretion, to issue tax-exempt revenue bonds for Applicant's... pMJ Ject;. the issuance and sale of the bonds; the :construction:of the project; or any other matter -or thing* of any type or nature whatsoever wluchnmy arise in connection with the foregoing. 14